IHS Chemical Week

People & Business :: Earnings/Finance

PPG Posts Record Profits on Higher Sales and Selling Prices

5:11 AM MDT | July 22, 2011 | Nancy Seewald

PPG Industries reported second-quarter net income of $340 million, up 25% from the same period last year. Earnings were $2.12/share, beating analysts’ consensus of $2.01/share, as reported by Thomson Reuters (New York), and the highest quarterly earnings in PPG’s history. Sales rose 15%, to $4 billion, on volume growth and pricing gains in each major region and reporting segment. “We implemented further pricing initiatives and managed our businesses aggressively to overcome continued input cost inflation, a global economy that has only partially...

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